Valeant Pharmaceuticals International Inc. has made mistakes and been too aggressive in the past in dramatically boosting the price of some of its drugs, the company’s outgoing chief executive is expected to tell a Senate committee Wednesday.
Valeant’s drug-price increases have overshadowed its broader work, “and so I recognize that we therefore need to work to regain the confidence of Congress, the public, doctors, and patients,” Michael Pearson, the departing CEO, says in testimony prepared for the Senate Special Committee on Aging.
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